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BCR Administrare Fond de Pensii asks market watchdog to approve merger with 2 new pension funds

BCR Administrare Fond de Pensii filed the necessary documents for the private pension market watchdog CSSPP to approve the merger of the fund administered by BCR with two other mandatory private pension funds, the lender announced.

According to a decision issued by CSSPP on July 3, the merger by absorption between BCR Fond de Pensii Administrat Privat and Omniforte was completed.

The merger process lasted for four months and the actual transfer of participants and assets was finalized. Out of the total 70,000 Omniforte participants, only 500 asked to be transferred without penalties to other funds during the merger process, declared the general director of BCR Administrare Fond de Pensii, Simona Ditescu.

BCR Fond de Pensii currently counts 230,000 participants. BCR Administrare Fond de Pensii estimates it will record at the end of 2009 approximately 270,000 participants on the mandatory private pension market (Pillar II).

The Romanian pension system was reformed in May 2007. Apart from the traditionally state-collected pensions (Pillar I) and the optional private ones (Pillar III), a new type appeared, the mandatory pensions privately managed (Pillar II).

 

Sursa: http://www.rompress.ro

Tags: bcr merger pensii pension funds market administrare

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